state farm business plan template

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State Farm Agent Business Plan Template

NOV.11, 2021

State Farm Agent business plan for starting your own business

A thoughtful business plan is required to build a successful insurance agency. Are you planning to start your insurance agency? For that, you need a well written and well-thought business plan.

The insurance agents, also known as insurance sales agents are involved in a variety of things. These include life insurance, property insurance, health insurance, long-term care insurance and disability insurance.

If you are interested to start a business in this industry and to know how to start a state farm agency, continue to read this state farm agent business plan. Just like our previous business plan for ecommerce , we have mention all the required steps to start your business.

No matter if you want to write indoor shrimp farm business plan , business plan for farmers market , oyster farming business plan , landscaping business plan , pig farming business plan or mushroom growing business plan , you can use this template for all kinds of purposes.

Executive Summary

2.1 the business.

Lifeline Insurance Company will be a registered general insurance company in New York. It was incorporated under the law of the US as a private Limited Liability Company.

We plan to transform into a Public Limited Liability Company in the future. So that we can get listed on the Stock Exchange of New York.

When starting a state farm agent business, you should be aware of becoming a state farm agent pros and cons. Also, similar to the landlord business plan , it is important to mention the management, customers and target of the business.

2.2 Management of State Farm Agent Business

When writing a state farm business proposal, it is necessary to plan everything before starting the business.

Lifeline Insurance Company will work on making its management strong that can support the growth of the company. We will make sure that we hire highly qualified and experienced people to help us in building the dream company.

The management body of our company mainly comprises the CEO, head of claims and premium collection, marketing executive, HR manager, accountant and customer care representatives.

2.3 Customers of State Farm Agent Business

The Lifeline insurance company will target small businesses and medium-sized businesses in and around the heart of the US – New York City. We will also make efforts to grow and sell our insurance policies in the other cities of the US as well.

Our customers will be from the US and other countries from the world. We have listed down the customers that we have designed our services and products for

• Entrepreneurs
• Corporate organizations
• Real Estate owners
• Blue Chips Companies
• The Government
• Sports Organizations

In state farm agent business plan example available online, you can find many other customers that an insurance company has.

2.4 Business Target

We plan to make the most out of state farm agent signing bonus. We are optimistic to become one of the most popular insurance companies in New York in the next 5 years.

Our primary goal is to cover all the investment in the next 3 years of our launch. Our secondary goal is to ensure that our customers are satisfied with our services and they get their claims when due without unnecessary delays.

We want to get included in the list of companies who are generating large revenue and are most trusted by people.

State Farm Business Plan – 3 Years Profit Forecast

Company Summary

3.1 company owner.

Neil Fred will be the CEO of Lifeline Insurance Company. He will be responsible for providing direction to the business. Neil completed his degree from the University of London in Insurance and then decided to start his agency instead of doing a job. Neil knew that this industry is global and wide and he can make a lot out of it.

Keeping in view all these points, he decided to start a state farm agency program. He worked on all the things required for opening a state farm agency. He got the personnel and financial plan required in starting a state farm agency.

3.2 Why the State Farm Agent Business is being started?

Neil made research on the insurance market and got an idea of the profit he can make from starting a general insurance company. This business is a kind of business that never goes into loss. He first thought to start an insurance company in a specialized area.

Later when he realized that he can excel in the general market, he decided to open a general insurance company. Remember, in any state farm business plan sample, it is necessary to mention why and how the business is started.

3.3 How the State Farm Business will be started?

Starting an insurance company can be challenging. It is never easy to break into the industry. The insurance business is a business venture that is recession-proof and can stand the test of time. We have listed down the important steps you need to take to open your insurance business.

Make a research

If you do not have experience working as an insurance agent, it is important to have a thorough understanding of the insurance industry. Before you step into the world of insurance, make sure that you understand the necessary terms and concepts. When you completely understand the insurance products, terms, management skills, and sales savvy, you will be able to run this business successfully.

A business plan is required

Before starting any kind of business, a strong and well-thought business plan is required. Your business plan will decide how you are going to get the clients and how will you differentiate yourself from other insurance companies. When you write a business plan for your business, you will get a direction and vision for your business.

Get a license

To start an insurance company, you need to get a license. If you are planning to open an insurance company in the US, you need to get a license from the Association of Insurance Commissioners. This step is time-consuming but without it, you cannot start an insurance company.

Secure Financing

Certain factors decide how much investment you need to start an insurance business. These factors include your location, business model and more. People who are working independently with no or few staff members will have minimum expenses to cover. While larger agencies need more money to start and run their businesses.

Access to Insurance Carriers

To sell insurance, you need to get in contact with the insurance carriers. The insurance carriers affiliate themselves with the insurance companies that want to sell their products.

Promote the business

After you have made a strong business plan, got a license, secured your financing and affiliate yourself with the insurance carriers, the last but not the least step is to promote your business.

In the state farm agent business plan, it is necessary to mention all the services that your insurance company will provide.

When you open a state farm agency, you list down all the services you want to offer to your clients. When Neil was planning to start a state farm agency, he decided to provide the following services:

• Life & Health Insurance
• Property & Vehicle Insurance
• Disability & Group Insurance
• Agriculture & Travel Insurance

These services vary from state farm business to business.

Marketing Analysis of State Farm Agent Business

In the state farm business plan for new agents, the marketing analysis is necessary to mention. Neil wanted to get through this step smoothly so he got the services of marketing experts.

To start and run a successful business, solid state farm agent business plans are required. In all the state farm business plan examples, you will find this important part of the marketing analysis of a business.

No one can deny the importance of marketing analysis because whether the business is going to fail or succeed heavily depends on it. Marketing analysis forms the basis of many important decisions and steps in running a business. The state farm marketing plan include market trends, market segmentation, business target and product pricing.

5.1 Market Trends

The US has the largest number of insurance companies in the world. In a research made in 2013, the total gross premium on a global scale was 4.640 trillion US dollars, out of which 1.274 trillion was only written in the US. This figure shows how big the insurance market is in the US.

One common trend in the insurance industry is the existence of small insurers as single corporations. They partner up with holding companies. It has a lot of benefits because the survival of single insurance companies after turbulence is pretty low.

5.2 Marketing Segmentation

In the insurance industry, markets are segmented into different groups. The products or services offered by an insurance company are tailored to match the needs of the client. The advantage of marketing segmentation is to help the insurance organization identify the needs of their customers.

The marketing segmentation for our insurance company will be following:

State Farm Business Plan – Marketing Segmentation

Household sector

The household sector will include retired and self-employees and salaried staff.

Corporate sector

This sector will include big and small businesses.

Industrial sector

The industrial sector will include industries and manufacturers.

Organizations

This sector includes all kinds of organizations and institutions.

5.3 Business Target

The state farm mission statement includes the business target that a company aims to achieve. The business target of Lifeline General Insurance Company is to become one of the top companies in the US.

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We aim to expand our state farm insurance franchise to other cities of the US as well. We are optimistic to cover all of our investment in the next 5 years of our launch.

5.4 Product Pricing

In the insurance industry, there is an established trend in pricing the products. Pricing the products and services depends upon the risk involved in the insurance policy covers. This calculation is done by the experts who keep in view all the aspects and then give the pricing.

The Lifeline Insurance Company will sell its insurance products and services at a low rate as compared to other insurance companies in town to increase our sales and customers.

Marketing Strategy for State Farm Agent Business

In every state farm agent business plan sample, you will find the marketing strategy because it is an important component in every state farm agent business proposal.

To make your insurance business run successfully, aggressive marketing is extremely important. It is why there are always men and women selling their insurance cover to people.

To survive in this industry, you need to be prepared to spend a lot of money on marketing and advertising your business to promote your products. There should be a strong marketing team that come up with unique and innovative ideas that can catch the attention of potential clients.

6.1 Competitive Analysis

The insurance market has become much more competitive over the last ten years. To survive in this industry, you have to be highly proactive, creative and customer-centric. Neil was aware of this high competition and he was prepared to compete among the leading insurance companies in the US.

From marketing managers to social media managers, a strong team is required to run an insurance business successfully.

6.2 Sales Strategy

• We will introduce our business to other small and medium-sized businesses by sending them letters, brochures and our policy.
• We will advertise our business using social media platforms to reach out to millions of people.
• We will attend seminars, expos and business fares to enhance our network and customers.
• We will hire sales agents and marketing executives to carry out direct marketing of our services and products.

6.3 Sales Monthly

State Farm Business Plan – Sales Yearly

6.4 Sales Yearly

6.5 Sales Forecast

State Farm Business Plan – Unit Sales

Personnel plan

In state farm agent business plans, an important part is the personnel plan. To open state farm agency, it is crucial to plan everything before the launch. Like in every state farm business plan proposal example, the personnel plan is an important step as it affects the decisions and success of any business.

The success and reputation of any business depend mainly on the staff and management of that company. The more loyal management, the more successful the business is. The personnel plan contains detailed information about the number and types of people who will work in a company. The advice of HR experts is vital to take at this step to make important decisions.

7.1 Company Staff

Neil Fred will be the owner and CEO of Lifeline Insurance business. The following people will be needed to run our company

• 1 Legal Secretary
• 2 general insurance managers
• 1 Head of Premium Collections
• 1 Head of Claims
• 3 customer representatives
• 2 client service executives

7.2 Average Salary of Employees

Financial plan.

The next step in state farm business plan is the financial plan. Like a personnel plan, it is also a crucial step in making any business plan. Like in all state farm business plan example, the financial plan covers all the points regarding the company expenses. It also includes the cost to start a business.

• The cost required for license, permits and policies
• The cost for buying computers, furniture, printers, telephones, and fax machines
• The salary of the employees
• The cost of making a website
• The rent of the office

8.1 Important Assumptions

8.2 break-even analysis.

State Farm Business Plan – Break-even Anlysis

8.3 Projected Profit and Loss

8.3.1 profit monthly.

State Farm Business Plan – Profit Monthly

8.3.2 Profit Yearly

8.3.3 Gross Margin Monthly

State Farm Business Plan – Gross Margin Monthly

8.3.4 Gross Margin Yearly

State Farm Business Plan – Gross Margin Yearly

8.4 Projected Cash Flow

State Farm Business Plan – Project Cash Flow

8.5 Projected Balance Sheet

8.6 business ratios.

• How do you make money as a State Farm agent?

The state farm agents get the clients. They come up with innovative and unique strategies to attract new clients and are paid based on successful sales and commissions. When you know how to start a state farm agency, you can make more money from your business.

• How much do State Farm agents make per policy?

The insurance agents get a commission of 40% in their sales for the first year. From the second year, the commission on the same sales become 2 to 5 percent. The commissions are pre-defined in the state farm agency program.

• Is a State Farm agent a sole proprietor?

Yes, state farm agents work as independent contractors and they are solely responsible for making decisions regarding the management and staff employed by them. The detail is given in the state farm agent business plan.

Download State Farm Agent Business Plan Sample in pdf

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How to Start a Farm: Plan Your Operation

Think about your operation from the ground up and start planning for your business.  A good farm business plan is your roadmap to start-up, profitability, and growth, and provides the foundation for your conversation with USDA about how our programs can complement your operation. 

Keep reading about planning your business below, get an overview of the beginning farmer's journey , or jump to a different section of the farmer's journey.

On This Page

Why you need a farm business plan.

A comprehensive business plan is an important first step for any size business, no matter how simple or complex. You should create a strong business plan because it:

• Will help you get organized . It will help you to remember all of the details and make sure you are taking all of the necessary steps.
• Will act as your guide . It will help you to think carefully about why you want to farm or ranch and what you want to achieve in the future. Over time, you can look back at your business plan and determine whether you are achieving your goals.
• Is required to get a loan . In order to get an FSA loan, a guarantee on a loan made by a commercial lender, or a land contract, you need to create a detailed business plan . Lenders look closely at business plans to determine if you can afford to repay the loan.

How USDA Can Help

Whether you need a good get-started guide, have a plan that you would like to verify, or have a plan you’re looking to update for your next growth phase, USDA can help connect you to resources to help your decisions.

Your state's beginning farmer and rancher coordinator  can connect you to local resources in your community to help you establish a successful business plan. Reach out to your state's coordinator for one-on-one technical assistance and guidance. They can also connect you with organizations that specifically serve beginning farmers and ranchers.

It is important to know that no single solution fits everyone, and you should research, seek guidance, and make the best decision for your operation according to your own individual priorities.

Build a Farm Business Plan

There are many different styles of business plans. Some are written documents; others may be a set of worksheets that you complete. No matter what format you choose, several key aspects of your operation are important to consider.

Use the guidelines below to draft your business plan. Answering these kinds of questions in detail will help you create and develop your final business plan. Once you have a business plan for your operation, prepare for your visit to a USDA service center. During your visit, we can help you with the necessary steps to register your business and get access to key USDA programs.

Business History

Are you starting a new farm or ranch, or are you already in business? If you are already in business:

• What products do you produce?
• What is the size of your operation?
• What agricultural production and financial management training or experience do you, your family members, or your business partners have?
• How long have you been in business?

Mission, Vision, and Goals

This is your business. Defining your mission, vision and goals is crucial to the success of your business. These questions will help provide a basis for developing other aspects of your business plan.

• What values are important to you and the operation as a whole?
• What short- and long-term goals do you have for your operation?
• How do you plan to start, expand, or change your operation?
• What plans do you have to make your operation efficient or more profitable ?
• What type of farm or ranch model (conventional, sustainable, organic, or alternative agricultural practices) do you plan to use?

Organization and Management

Starting your own business is no small feat. You will need to determine how your business will be structured and organized, and who will manage (or help manage) your business. You will need to be able to convey this to others who are involved as well.

• What is the legal structure of your business? Will it be a sole proprietorship, partnership, corporation, trust, limited liability company, or other type of entity?
• What help will you need in operating and managing your farm or ranch?
• What other resources, such as a mentor or community-based organization , do you plan to use?

Marketing is a valuable tool for businesses. It can help your businesses increase brand awareness, engagement and sales. It is important to narrow down your target audience and think about what you are providing that others cannot.

• What are you going to produce ?
• Who is your target consumer ?
• Is there demand for what you are planning to produce?
• What is the cost of production?
• How much will you sell it for and when do you expect to see profit ?
• How will you get your product to consumers ? What are the transportation costs and requirements?
• How will you market your products?
• Do you know the relevant federal, state, and local food safety regulations? What licensing do you need for your operation?

Today there are many types of land, tools, and resources to choose from. You will need to think about what you currently have and what you will need to obtain to achieve your goals.

• What resources do you have or will you need for your business?
• Do you already have access to farmland ? If not, do you plan to lease, rent, or purchase land?
• What equipment do you need?
• Is the equipment and real estate that you own or rent adequate to conduct your operation? If not, how do you plan to address those needs?
• Will you be implementing any conservation practices to sustain your operation?
• What types of workers will you need to operate the farm?
• What additional resources do you need?

Now that you have an idea of what you are going to provide and what you will need to run your operation you will need to consider the finances of your operation.

• How will you finance the business?
• What are your current assets (property or investments you own) and liabilities (debts, loans, or payments you owe)?
• Will the income you generate be sufficient to pay your operating expenses, living expenses, and loan payments?
• What other sources of income are available to supplement your business income?
• What business expenses will you incur?
• What family living expenses do you pay?
• What are some potential risks or challenges you foresee for your operation? How will you manage those risks?
• How will you measure the success of your business?

Farm Business Plan Worksheets

The Farm Business Plan Balance Sheet can help gather information for the financial and operational aspects of your plan.

Form FSA-2037 is a template that gathers information on your assets and liabilities like farm equipment, vehicles and existing loans.

• FSA-2037 - Farm Business Plan - Balance Sheet
• FSA-2037 Instructions

Planning for Conservation and Risk Management

Another key tool is a conservation plan, which determines how you want to improve the health of your land. A conservation plan can help you lay out your plan to address resource needs, costs and schedules.

USDA’s Natural Resources Conservation Service (NRCS) staff are available at your local USDA Service Center to help you develop a conservation plan for your land based on your goals. NRCS staff can also help you explore conservation programs and initiatives, such as the Environmental Quality Incentives Program (EQIP) .

Conservation in Agriculture

Crop insurance, whole farm revenue protection and other resources can help you prepare for unforeseen challenges like natural disasters.

Disaster Recovery

Special Considerations

Special considerations for businesses.

There are different types of farm businesses each with their own unique considerations. Determine what applies to your operation.

• Organic Farming  has unique considerations. Learn about organic agriculture , organic certification , and the  Organic Certification Cost Share Program  to see if an organic business is an option for you. NRCS also has resources for organic producers and offers assistance to develop a conservation plan.
• Urban Farming  has special opportunities and restrictions. Learn how USDA can help farmers in urban spaces .
• Value-Added Products . The Agricultural Marketing Resource Center (AgMRC) is a national virtual resource center for value-added agricultural groups.
• Cooperative.  If you are interested in starting a cooperative, USDA’s Rural Development Agency (RD) has helpful resources to help you begin . State-based  Cooperative Development Centers , partially funded by RD, provide technical assistance and education on starting a cooperative.

Special Considerations for Individuals

Historically Underserved Farmers and Ranchers: We offer help for the unique concerns of producers who meet the USDA definition of "historically underserved,"  which includes farmers who are:

• socially disadvantaged
• limited resource
• military veterans

Women: Learn about specific incentives, priorities, and set asides for  women in agriculture within USDA programs.

Heirs' Property Landowners: If you inherited land without a clear title or documented legal ownership, learn how USDA can help Heirs’ Property Landowners gain access to a variety of programs and services

Business Planning

Creating a good business plan takes time and effort. The following are some key resources for planning your business.

• Farm Answers from the University of Minnesota features a library of how-to resources and guidance, a directory of beginning farmer training programs, and other sources of information in agriculture. The library includes business planning guides such as a Guide to Developing a Business Plan for Farms and Rural Businesses and an Example Business Plan .
• The Small Business Administration (SBA) offers information about starting, managing, and transitioning a business.

SCORE is a nonprofit organization with a network of volunteers who have experience in running and managing businesses. The Score Mentorship Program partners with USDA to provide:

• Free, local support and resources, including business planning help, financial guidance, growth strategies.
• Mentorship through one-on-one business coaching -- in-person, online, and by phone.
• Training from subject matter experts with agribusiness experience.
• Online resources and step-by-step outlines for business strategies.
• Learn more about the program through the Score FAQ .

Training Opportunities

Attend field days, workshops, courses, or formal education programs to build necessary skills to ensure you can successfully produce your selected farm products and/or services. Many local and regional agricultural organizations, including USDA and Cooperative Extension, offer training to beginning farmers.

• Cooperative Extension  offices address common issues faced by agricultural producers, and conduct workshops and educational events for the agricultural community.
• extension.org  is an online community for the Cooperative Extension program where you can find publications and ask experts for advice.

Now that you have a basic plan for your farm operation, prepare for your visit to a USDA service center.

2. Visit Your USDA Service Center

How to Start a Farm with USDA

Get an  overview of the beginning farmer's journey  or jump to a specific page below.

Find Your Local Service Center

USDA Service Centers are locations where you can connect with Farm Service Agency, Natural Resources Conservation Service, or Rural Development employees for your business needs. Enter your state and county below to find your local service center and agency offices. If this locator does not work in your browser, please visit offices.usda.gov.

Learn more about our Urban Service Centers . Visit the Risk Management Agency website to find a regional or compliance office  or to find an insurance agent near you.

Insurance Agency Business Plan Template

Written by Dave Lavinsky

Over the past 20+ years, we have helped over 3,000 entrepreneurs and business owners create business plans to start and grow their insurance agencies. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through an insurance agency business plan template step-by-step so you can create your plan today.

Download our Ultimate Insurance Business Plan Template here >

What Is a Business Plan?

A business plan provides a snapshot of your insurance agency as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan

Source of Funding for Insurance Agencies

With regards to funding, the main sources of funding for an insurance agency are personal savings, credit cards, bank loans, and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate the business.

The second most common form of funding for an insurance agency is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan. Venture capitalists will not fund an insurance agency unless it is based on a unique, scalable technology.

Finish Your Business Plan Today!

Your insurance agency business plan should include 10 sections as follows:

Executive Summary

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of insurance agency business you are operating and the status; for example, are you a startup, do you have an insurance agency that you would like to grow, or are you operating multiple insurance agency locations already.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the insurance agency industry. Discuss the type of insurance agency you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.

Company Analysis

In your company analysis, you will detail the type of insurance agency you are operating.

For example, you might operate one of the following types:

• Direct Writer / Captive : this type of insurance agency only sells one insurance company’s products – like Allstate or State Farm
• Independent Insurance Agent : this type of insurance agency is privately-owned, and sells policies with may different insurance companies

In addition to explaining the type of insurance agency you operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new location openings, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

While this may seem unnecessary, it serves multiple purposes.

First, researching the insurance industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards weather-related policy purchases, it would be helpful to ensure your plans call for flood insurance options.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your insurance company business plan:

• How big is the insurance agency business (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key insurance carriers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your insurance agency. You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your insurance agency business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, households, businesses, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of insurance agency you operate. Clearly baby boomers would want different pricing and product options, and would respond to different marketing promotions than recent college graduates.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most insurance agencies primarily serve customers living in their same geographic region, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Direct competitors are other insurance agencies.

Indirect competitors are other options that customers have to purchase from you that aren’t direct competitors. This includes self pay and public (Medicare, Medicaid in the case of health insurance) insurance or directly working with an insurance carrier. You need to mention such competition to show you understand that not everyone who purchases insurance does so through an insurance agency.

With regards to direct competition, you want to detail the other insurance agencies with which you compete. Most likely, your direct competitors will be insurance agencies located in your geographic region.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• What products do they offer?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide superior insurance agency products/services?
• Will you provide insurance agency products that your competitors don’t offer?
• Will you make it easier or faster for customers to acquire your products?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For an insurance agency business plan, your marketing plan should include the following:

Product : in the product section you should reiterate the type of insurance agency that you documented in your Company Analysis. Then, detail the specific products/services you will be offering. For example, in addition to P&C insurance, will you also offer life insurance?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the menu items you offer and their prices.

Place : Place refers to the location of your insurance agency. Document your location and mention how the location will impact your success. For example, is your insurance agency located next to the Department of Motor Vehicles, or a heavily populated office building, etc. Discuss how your location might provide a steady stream of customers.

Promotions : the final part of your insurance agency marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Making your insurance agency’s front store extra appealing to attract passing customers
• Advertising in local papers and magazines
• Reaching out to local bloggers and websites
• Partnerships with local organizations (e.g., auto dealerships or car rental stores)
• Local radio advertising
• Banner ads at local venues

Operations Plan

Everyday short-term processes include all of the tasks involved in running your insurance agency such as serving customers, procuring relationships with insurance carriers, negotiating with repair shops, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to acquire your 500th customer, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch a new location.

Management Team

To demonstrate your insurance agency’s ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in the insurance agency business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in insurance agencies and/or successfully running small businesses.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you acquire 20 new customers per month or 50? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your insurance agency location and/or website, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing an insurance agency:

• Location build-out including design fees, construction, etc.
• Marketing expenses
• Website development
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Insurance Business Plan Summary

Putting together a business plan for your insurance agency is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the insurance agency business, your competition and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful insurance agency.

Download Our Insurance Business Plan PDF

You can download our insurance business plan PDF here . This is a business plan template you can use in PDF format.

Insurance Business Plan FAQs

What is the easiest way to complete my insurance business plan.

Growthink's Ultimate Insurance Business Plan Template allows you to quickly and easily complete your Insurance Business Plan.

Where Can I Download an Insurance Business Plan PDF?

You can download our insurance business plan PDF template here . This is a business plan template you can use in PDF format.

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Other Helpful Business Plan Articles & Templates

Farm Business Plan Template

Written by Dave Lavinsky

Business Plan Outline

• Farm Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan

Farm Business Plan

You’ve come to the right place to create your farm business plan.

We have helped over 5,000 entrepreneurs and business owners create business plans and many have used them to start or grow their farms.

Below are links to each section of a small farm business plan template. It can be used to create a vegetable farm business plan, fruit farm business plan, agriculture farm business plans or many other types of rural businesses.

Sample Business Plan For Farms & Agricultural Businesses

• Executive Summary – The Executive Summary is the most important part of your business plan. It is a brief description of your farm, its products and services, potential market opportunity, and competitive advantage.
• Company Overview – Also called the Company Analysis, here, you will provide a detailed description of your agriculture business history, its products and other services, and business structure.
• Industry Analysis – In the Industry Analysis, you will provide an in-depth analysis of the industry in which your farm operates including industry trends, market size and growth, and government regulations.
• Customer Analysis – In the Customer Analysis, you will identify your target market and provide insights into their purchasing habits. You will also create customer segments and discuss your marketing strategy for reaching them.
• Competitive Analysis – In the Competitive Analysis, you will identify your direct competition and provide insights into their strengths and weaknesses. You will also discuss your competitive advantage and how you plan to stay ahead of the competition.
• Marketing Plan – The Marketing Plan includes a discussion of your marketing strategy and tactics along with your pricing strategy. You will also provide a budget for your marketing activities including attending farmers’ markets or advertising a farm stand.
• Operations Plan – In the Operations Plan, you will discuss your farm’s day-to-day operations. You will also provide your business goals that you plan to achieve and a budget for your operating expenses.
• Management Team – In this section, you will provide a brief overview of the farm owners and farm management team, their experience in the agricultural industry, and the organizational chart.
• Financial Plan – In this section, you will provide three-year financial statements for your farm. This will include your income statements, projected balance sheets, and cash flow statements.

Next Section: Executive Summary >

Farm Business Plan FAQs

What is a farm business plan.

A farm business plan is a plan to start and/or grow your farm business. Among other things, a good agriculture farm business plan outlines your business concept, identifies your target audience , presents your marketing plan and details your financial projections.

You can  easily complete your farm business plan using our Farm Business Plan Template here .

What Are the Main Types of Farms?

There are many types of farms. Some have commercial farms that produce crops and agricultural products for sale. Others have cooperative farms owned by people who pool their resources together and share profits among themselves. There are also vegetable farms, dairy, micro, organic, poultry, subsistence, or urban farms.

What Are the Main Sources of Revenues and Expenses for a Farm?

The primary source of revenue for a farm is the sale of its farmed goods such as rice, corn, milk, beef, chicken, depending on the kind of farm a business is.

Some key expenses for a farm are labor expenses, production costs like irrigation, fertilizer, water, and machinery maintenance.

How Do You Get Funding for Your Agriculture Business?

Farm business plans often receive funding from bank loans. Financing is also typically available from grants offered by local and state governments. Personal savings, credit card financing and angel investors are other funding options. This is true for starting any agricultural business.

What are the Steps To Start a Farm Business?

Starting a farming business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

• Develop An Agricultural Business Plan - The first step in starting a business is to create a detailed agriculture business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  It should also include your business goals and mission statement. You can quickly complete your farm business plan using our Farm Business Plan Template here .
• Choose Your Legal Structure - It's important to select an appropriate legal entity for your farm business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your farm business is in compliance with local laws.
• Register Your Agriculture Business - Once you have chosen a legal structure, the next step is to register your farm business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 
• Identify Financing Options - It’s likely that you’ll need some capital to start your farm business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 
• Choose a Business Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 
• Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 
• Acquire Necessary Farm Equipment & Supplies - In order to start your agricultural business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 
• Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your farm business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful farm business and agribusiness planning:

• How to Start a Farm Business

Where Can I Get a Farm Business Plan PDF?

You can download our free farm business plan template PDF here . This is a good farm business plan template you can use in PDF format.

12: Business Plans

What is a business plan.

A business plan is a document that helps you to organize and succinctly summarize the vision you have for your business. The plan contains the operational and financial objectives of a business, the detailed plans and budgets showing how the objectives are to be realized.

A good business plan will contain the following:

• Your business vision, mission statement, key values, and goals
• Description of the product(s) you intend to produce
• Strengths, Weaknesses, Opportunities and Threats the business may experience are described
• Production plans
• Marketing plans
• Estimated start-up costs
• Information on your legal structure and management team
• Current financial statements or projected financial statements.
• Resume or brief explanation of your background and relevant experience
• Less than 10 total pages so that people actually read it

Helpful Publications for Writing a Business Plan

General Business Resource Publications:

• Starting an Ag-Business? A Pre-Planning Guide http://publications.dyson.cornell.edu/outreach/extensionpdf/2004/Cornell_AEM_eb0408.pdf
• Business Transfer Guide: Junior Generation http://publications.dyson.cornell.edu/outreach/extensionpdf/2016/Cornell-Dyson-eb1605.pdf
• Producing a Business Plan for Value-Added Agriculture http://publications.dyson.cornell.edu/outreach/extensionpdf/2007/Cornell_AEM_eb0708.pdf
• Business Planning for the Agriculture Sector: A Guide to Business Plan Development for Start-up to Mid-size Operations http://publications.dyson.cornell.edu/outreach/extensionpdf/2010/Cornell_ pdf
• Building a Sustainable Business (Sustainable Agricultural Research Education (SARE)Publications) sare.org/publications/business.htm 280 pages of education and practical exercises to guide you through the financial, management, and interpersonal skills needed to start a successful farm business. Order hard copy for $17 or download PDF online for free.

Cornell Cooperative Extension Publications for Specific Commodities:

• Landscape Business Planning Guide http://publications.dyson.cornell.edu/outreach/extensionpdf/2003/Cornell_AEM_eb0313.pdf
• Writing a Business Plan: A Guide for Small Premium Wineries http://publications.dyson.cornell.edu/outreach/extensionpdf/2002/Cornell_AEM_eb0206.pdf
• Writing a Business Plan: An Example for a Small Premium Winery https://ageconsearch.umn.edu/bitstream/122203/2/Cornell_AEM_eb0207.pdf

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Small Farming Business Plan

Free Business Plan Template

Download our free business plan template now and pave the way to success. Let’s turn your vision into an actionable strategy!

• Fill in the blanks – Outline
• Financial Tables

How to Write A Small Farming Business Plan?

Writing a small farming business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready and summarizes each section of your plan.

Here are a few key components to include in your executive summary:

Introduce your Business:

• This section may include the name of your small farming business, its location, when it was founded, the type of small farming business (E.g., vegetable farming, bee farming, aquaculture, organic farming), etc.

Market Opportunity:

• For instance, you may include fruits, vegetables, herbs, and spices as products and mention organic produce, exotic fruits, and local produce as some of your USPs.

Marketing & Sales Strategies:

Financial highlights:, call to action:.

Ensure your executive summary is clear, concise, easy to understand, and jargon-free.

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2. Business Overview

The business overview section of your business plan offers detailed information about your company. The details you add will depend on how important they are to your business. Yet, business name, location, business history, and future goals are some of the foundational elements you must consider adding to this section:

Business Description:

• Vegetable farming
• Bee farming
• Aquaculture
• Organic farming
• Describe the legal structure of your small farm, whether it is a sole proprietorship, LLC, partnership, or others.
• Explain where your business is located and why you selected the place.

Mission Statement:

Business history:.

• Additionally, If you have received any awards or recognition for excellent work, describe them.

Future Goals

This section should provide a thorough understanding of your business, its history, and its future plans. Keep this section engaging, precise, and to the point.

3. Market Analysis

The market analysis section of your business plan should offer a thorough understanding of the industry with the target market, competitors, and growth opportunities. You should include the following components in this section.

Target market:

• For instance, farmers’ markets, specialty retailers, and local customers would be an ideal target audience for smart farming businesses.

Market size and growth potential:

• For instance, the global smart farming market is expected to reach 53 billion dollars by 2032, so it is crucial to define the segment of your target market and its growth potential.

Competitive Analysis:

Market trends:.

• For instance, agrotech and automation have a booming market; explain how you plan on dealing with this potential growth opportunity.

Regulatory Environment:

Here are a few tips for writing the market analysis section of your small farming business plan:

• Conduct market research, industry reports, and surveys to gather data.
• Provide specific and detailed information whenever possible.
• Illustrate your points with charts and graphs.
• Write your business plan keeping your target audience in mind.

4. Products And Services

The product and services section should describe the specific services and products that will be offered to customers. To write this section should include the following:

Describe your farm products:

Describe the type of products your small farming business will offer. A vegetable farming business may include a detailed description of crops and their varieties here.

Mention products:

Provide a list of products that will be available at your small farm. This list may include,

Value-added services:

Quality measures:.

• This may include quality control processes, clear service standards, regular maintenance, and training.

Additional Services

In short, this section of your small farming plan must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Unique Selling Proposition (USP):

• For example, organic and sustainable practices, fresh local produce, and exotic products could be some of the great USPs for a vegetable and fruit small farm.

Pricing Strategy:

Marketing strategies:, sales strategies:, customer retention:.

Overall, this section of your small farming business plan should focus on customer acquisition and retention.

Have a specific, realistic, and data-driven approach while planning sales and marketing strategies for your small farming business, and be prepared to adapt or make strategic changes in your strategies based on feedback and results.

6. Operations Plan

The operations plan section of your business plan should outline the processes and procedures involved in your business operations, such as staffing requirements and operational processes. Here are a few components to add to your operations plan:

Staffing & Training:

Operational process:, equipment & machinery:.

• Explain how these technologies help you maintain quality standards and improve the efficiency of your business operations.

Adding these components to your operations plan will help you lay out your business operations, which will eventually help you manage your business effectively.

7. Management Team

The management team section provides an overview of your small farming business’s management team. This section should provide a detailed description of each manager’s experience and qualifications, as well as their responsibilities and roles.

Founders/CEO:

Key managers:.

• It should include, key executives(e.g. COO, CMO.), senior management, and other department managers (e.g. farm manager, sales manager.) involved in the small farming business operations, including their education, professional background, and any relevant experience in the farming industry.

Organizational structure:

Compensation plan:, advisors/consultants:.

• So, if you have any advisors or consultants, include them with their names and brief information consisting of roles and years of experience.

This section should describe the key personnel for your small farming services, highlighting how you have the perfect team to succeed.

8. Financial Plan

Your financial plan section should provide a summary of your business’s financial projections for the first few years. Here are some key elements to include in your financial plan:

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:.

• This exercise will help you understand how much revenue you need to generate to sustain or be profitable.

Financing Needs:

Be realistic with your financial projections, and make sure you offer relevant information and evidence to support your estimates.

9. Appendix

The appendix section of your plan should include any additional information supporting your business plan’s main content, such as market research, legal documentation, financial statements, and other relevant information.

• Add a table of contents for the appendix section to help readers easily find specific information or sections.
• In addition to your financial statements, provide additional financial documents like tax returns, a list of assets within the business, credit history, and more. These statements must be the latest and offer financial projections for at least the first three or five years of business operations.
• Provide data derived from market research, including stats about the small farming industry, user demographics, and industry trends.
• Include any legal documents such as permits, licenses, and contracts.
• Include any additional documentation related to your business plan, such as product brochures, marketing materials, operational procedures, etc.

Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.

Remember, the appendix section of your small farming business plan should only include relevant and important information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

This sample small farming business plan will provide an idea for writing a successful small farming plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready business plan to impress your audience, download our small farming business plan pdf .

Related Posts

Farming Business Plan

Organic Farm Business Plan

Guide to Effective Customer Analysis

Business Plan Outline Crafting Guide

Business Plan Table of Contents Example

Business Plan Example Template

Frequently asked questions, why do you need a small farming business plan.

A business plan is an essential tool for anyone looking to start or run a successful small farming business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your small farm.

How to get funding for your small farming business?

There are several ways to get funding for your small farming business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are:

• Bank loan – You may apply for a loan in government or private banks.
• Small Business Administration (SBA) loan – SBA loans and schemes are available at affordable interest rates, so check the eligibility criteria before applying for it.
• Crowdfunding – The process of supporting a project or business by getting a lot of people to invest in your business, usually online.
• Angel investors – Getting funds from angel investors is one of the most sought startup options.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

How do I write a good market analysis in a small farming business plan?

Market analysis is one of the key components of your business plan that requires deep research and a thorough understanding of your industry. We can categorize the process of writing a good market analysis section into the following steps:

• Stating the objective of your market analysis—e.g., investor funding.
• Industry study—market size, growth potential, market trends, etc.
• Identifying target market—based on user behavior and demographics.
• Analyzing direct and indirect competitors.
• Calculating market share—understanding TAM, SAM, and SOM.
• Knowing regulations and restrictions
• Organizing data and writing the first draft.

Writing a marketing analysis section can be overwhelming, but using ChatGPT for market research can make things easier.

How detailed should the financial projections be in my small farming business plan?

The level of detail of the financial projections of your small farming business may vary considering various business aspects like direct and indirect competition, pricing, and operational efficiency. However, your financial projections must be comprehensive enough to demonstrate a complete view of your financial performance.

Generally, the statements included in a business plan offer financial projections for at least the first three or five years of business operations.

What key components should a small farming business plan include?

The following are the key components your small farming business plan must include:

• Executive summary
• Business Overview
• Market Analysis
• Products and services
• Sales and marketing strategies
• Operations plan
• Management team
• Financial plan

Can a good small farming business plan help me secure funding?

Indeed. A well-crafted small farming business plan will help your investors better understand your business domain, market trends, strategies, business financials, and growth potential—helping them make better financial decisions.

So, if you have a profitable and investable business, a comprehensive business plan can certainly help you secure your business funding.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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19+ farm business plan templates – word, pdf, excel, google docs, apple pages.

To develop a viable farm business plan , it will take a great idea. During the writing of a farm business plan, you will develop an overall vision and mission for your business. You can add the short and long term goals you have for your farm in the plan. In planning for your next bean of the farm business, deciding on the suppliers, making the deduction of the selling point or shop expansion plan, templates will always inspire a thoughtful plan for you.

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Farm Business Plan Template

Agriculture Business Plan Template

Dairy Farm Business Plan Template

Animal Farm Business Plan Template

Sample Vegetable Farming Business Plan Template

Poultry Marketing Plan Template

Vegetable Farming Sales Plan Template

Farm Business Plan Template in Pages for Mac

Creating a Farm Business Plan:

Step 1: Goals and Objectives

Step 2: background information, step 3: market research, step 4: strategy and marketing plan, step 5: budget, step 6: review, agriculture farm business plan.

Cattle Farm Business Plan Template

Chicken Farm Business Plan  Template

Cow Farm Business Plan Template

Dairy Farming Business Plan Template

Farming Business Plan Template

Fish Farming Business Plan Template

Goat Farming Business Plan Template

Pig Farming Business Plan Template

Poultry Farm Business Plan

Small Farm Business Plan Template

Solar Farm Business Plan Template

Conclusion:

General faqs, 1. what is a farm business plan, 2. what is the purpose of a farm business plan, 3. what should be included in a farm business plan.

• Gather information and research markets
• SWOT analysis
• Alternative strategies, if any
• Add one or more conclusion
• Add your strategies and reread your mission statement
• Implementation plan to reach your goals
• List of resources and materials needed, budget , etc.

4. What is a good Farm Business Plan?

5. how to make a farm business plan.

• Take stock of the crops growing on your farmland
• Assess how long does it take to grow a certain crop
• Write the mission statements
• Design your business plan
• Action plan to get over any unexpected/expected crisis
• Budget for each crop and their sale values
• Salaries for workers, etc.

More in Plan Templates

One page action plan template, business handbook template, farming business plan, dairy farm development plan template, generic business plan template, warehouse business plan template, vegetable farming business plan template.

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• Online Classes
• Agricultural Tourism
• Beginning Farmers
• Dry Farming
• OSU Organic Agriculture
• Olive Research for Oregon
• Whole Farm Management
• Business Planning Resources
• Refine Your Business Plan

Sample Business Plans

• Start Your Business Plan
• Berries & Grapes
• Biodiversity & Pest Management
• Harvest & Handling
• Herbs & Flowers
• Nursery Crops & Greenhouses
• Tree Fruits & Nuts
• Winter Farming
• Drought, Fire, Flood, Disaster Relief and Resiliency Programs
• Dry Farming Research
• Community Support Agriculture
• Marketing Your Farm
• Meat & Eggs
• Raw Agricultural Products
• Value Added
• Farmers' Markets
• Organic Fertilizer and Cover Crop Calculators
• Hay Production
• Irrigation & Fencing
• Mud & Manure Management
• Nutrient Management
• Pasture and Grazing Management
• Weeds, Poisonous Plants, & Other Pests
• Soil Testing
• Soil Surveys
• Improving Soil Quality & Cover Crops
• Agricultural Composting and Water Quality
• Water & Irrigation
• Business Planning

Below are examples of different farm business plans and a loan application:

Oregon Flower Farm Business Plan Example

Interval Farm Business Plan Sample

Peach Farm Business Plan Sample

USDA FSA Sample Microloan Application

State Farm Insurance Business Plan Template – Fill Out and Use This PDF

State Farm Insurance Business Plan Template is a great way to start analyzing your business plan.

We ensure it is hassle-free and secure to use this form. Start filling out this PDF form by simply pressing the button below. The whole process of editing forms can be carried out using a phone, a laptop, or a tablet.

State Farm Insurance Business Plan Template PDF Details

Are you looking for a State Farm Insurance business plan template form? If so, you've come to the right place. In this blog post, we will be discussing what a business plan is and what it should include. We will also be providing a link to a State Farm Insurance business plan template form that you can use as a guide. Finally, we will provide some tips on how to create your own business plan.

Here is the information regarding the form you were looking for to fill in. It will tell you the length of time you will need to finish state farm insurance business plan template, exactly what fields you will have to fill in and several other specific details.

Form Preview Example

ABINGDON, VIRGINIA BUSINESS PLAN

We will be servant leaders to our customers while nurturing a mutually beneficial lifelong relationship with them.

To be Washington County’s premier source of wealth creation and preservation, asset protection and management, and insurer.

• Leverage and translate the strength of the State Farm brand and reputation in property & casualty protection into a broader financial services arena more directly associated with bank and securities products to insulate the company from the rate sensitivities of auto insurance and the potential reforms of health care. Reposition the agency as a financial services specialist while continuing to implement the “auto insurance as lost leader for multi-lines of business” model for the growth and maintenance of the existing book of business.

• Develop an online and social media marketing platform to leverage the cost efficiencies of this medium while gaining traction and loyalty with Generations X and Y.

• Develop strong alliances with the abundance of college campuses in the vicinity and begin nurturing lifelong relationships with this potentially elusive demographic. Lead with bank products that appeal to this segment (Student VISA, Credit builder VISA, Checking, Savings, and Vehicle Loans) to instill a financial services mindset from day one. Foster these relationships as a prime employee recruitment tool. Target the faculty and administration offices of these institutions for all product lines.

• Monitor the implications of the Patient Protection and Affordable Care Act (PPACA) and the Health Care and Education Reconciliation Act and adjust projections for health-related insurance lines as necessary for years 4-6 (2014-2016) of this plan.

• Become known as a knowledge base for financial services by offering a series of educational programs for the general public.

• Be among the Top 100 TICA by qualifying through Life Premiums, Health Premiums, New Mutual Fund Accounts, Auto Production, and Bank Commissions.

• Qualify for Level 1 Ambassador Travel.

• Conduct IFRs with each client every 18 months to maximize multi-lining opportunities.

Local Market Context

Target Market

• Washington County was established December 7, 1776 and was named after George Washington. It encompasses 560 square miles.

• There are three towns located in the County as well as the communities of Emory, Meadowview, Mendota, and Saltville

• Emory & Henry College, founded in 1836 and located in Emory, is one of the oldest colleges in Southwest Virginia. Southwest Virginia Higher Education Center, located in Abingdon, represents a partnership of seven universities providing satellite education services.

• Abingdon is known as “Little Richmond -- the State Capital of Southwest Virginia” with its 42 state agencies and Federal Courthouse serving as a regional service center for medical, professional, and governmental services.

• Abingdon has a significant arts and culture infrastructure, most notably the Barter Theater of Virginia, the “State Theater of Virginia”, one of the oldest professional theaters in the nation founded in 1933, the William King Museum Regional Center for Art and Cultural Heritage, and the regional artisan center, Heartwood, currently under construction on the grounds of Virginia Highlands Community College. Word on the street is that this little town just might be on the verge of discovering its creative economy to become the next Asheville. It has been a sudden, subtle change, but seemingly overnight, the same sort of art galleries and crafty, eclectic shops that define that North Carolina tourist center are popping up here.

• The independent city of Bristol, Virginia (population 17,400) borders the County.

• Washington County is a major tourist destination with historic landmarks and accessibility to national and regional recreation areas.

• Major roads include Interstate 81 (with 15 exits, the most of any county in Virginia), which runs through the County’s central valley. Other main highways include State Routes 11, 19, and 58.

• Commercial air service is primarily provided through Tri-Cities Regional Airport in Blountville, TN, approximately 10.4 miles from the County. General aviation service is also provided through Virginia Highlands Airport in Abingdon.

• Rail service is provided by Norfolk Southern Railway Company.

Population and Demographics

The County’s current population estimate is 54,443, a 6.5% increase since the 2000 Census. An 11% growth rate from 1990 to 2000 made it the only county in the Southwest Virginia area to have experienced an increase during that time. The population is primarily caucasian (97.1%) with an African-American contingent of 1.7% and a median age of 41.1. Unemployment currently hovers just below 9% against a state average of ~7%. The top 10% (1,733 HH) of owner- occupied housing values are above $300k with the majority of that total (81% or 1400 HH) ranging from $300-499,999.

Twenty-one percent of the population has a Bachelor’s Degree or higher and a median income of $39,865 (versus $61,044 for the state) with the top 10% making $100k or more.

The top 50% of the workforce, or 9,713 of the county’s total 19,425 employees as of 4th quarter 2009, is divided between trade, transportation, and utilities (24.5%) and education and health services (24.1%) with an additional 17.2% in manufacturing. Calendar year-to-date estimates through June 2010 put average employment at 24,779 per month, a 27.6% increase over 4th quarter 2009.

Economic Development

Recent major commercial projects include:

• $40 million The Highlands (big box retailer, Target, along with 9 baby box retailers and 4 out-parcels)

• $4 million Sam’s Club

• $22 million Johnston Memorial Hospital Regional Cancer Center

along with planned investment of $40-60mm in the Ridgecrest Center and $16mm in the Heartwood Regional Artisan Center.

EXISTING BUSINESS & INDUSTRY WITH 100+ EMPLOYEEES

+ Virginia City Hybrid Energy Plant Construction Temporary Workforce through 3/2013

SWOT Analysis

• The inherent strength and integrity of the State Farm brand as a property & casualty insurer.

• The depth and breadth of the product lines available through State Farm.

• A viable geographic market that has demonstrated respectable strength and growth in a tentative economy.

• A predominantly white-collar and diverse economy (medical, professional, governmental, educational, and tourism) with a natural predisposition for the State Farm line of products.

• Relationships with securities customers are more resilient than those based exclusively on insurance.

• Experienced real estate broker with proven sales, business development, and networking abilities.

• Brand strength as a property & casualty insurer overshadows and limits the perception of and expansion into a broader financial services segment.

• Auto insurance is highly competitive and rate sensitive. State Farm does not have the brand inertia and loyalty with Generations X and Y that it has enjoyed with prior consumer segments.

• The Washington County unemployment rate is higher than the State average.

• Online marketing is drastically underutilized in the insurance industry as a whole. A recent report stated that 48% of independent insurance agents have web sites, and of those, only about 20% keep the sites updated.

• Securities products have not been aggressively marketed in Washington County.

Opportunities

• Maintain the existing “auto insurance as lost leader” model for multi-lining while dedicating a financial services representative to aggressively market directly to that segment’s growth and capitalize upon the nation’s transference of wealth phenomenon.

• Design an approach that shields the agency from auto insurance rate sensitivities and health insurance reform uncertainties.

• While the overall Washington County household market penetration of 20.6-25.6% is commendable, growth to 30% does not seem unreasonable. County-wide penetration levels of 1.4-1.6% for State Farm Bank suggest room for considerable growth.

• The auto and fire penetration levels for Abingdon are 19.4% and 12%, respectively, signaling potential market-specific growth for these product lines.

• 2010 Census Data will be available in March 2011. Revisit and refresh this plan as needed at that time.

• Promote Life, Bank, and Mutual Fund products to the market’s 47% medical, professional, governmental, educational, and tourism professionals.

• Target the county’s 30% of households with a presence of children below the age of 18 for Education Savings, Life Insurance.

• Solicit rental coverage from the county’s 6,000 rental households.

• Use social media to target tech-savvy professionals and college students. According to Forrester Research, more than four in five U.S. online adults use social networking tools — Facebook, LinkedIn, YouTube, Twitter and blogs — at least once a month, and half participate in social networks. Develop an expert reputation in insurance and financial services by creating conversations with consumers that will lead relationships by offering valuable content, suggestions, opinions, and engagement by spreading our knowledge and service throughout the virtual world.

• The County’s relatively high unemployment rate creates increased demand for 401k rollovers and short-term health insurance policies.

• Pursue the top 46% of the market (ages 45+) for Long Term Care, Whole and Universal Life, and Mutual Funds along with Medicare supplements from the 14% of households ages 65+.

• Financial services companies whose brands are more firmly entrenched in that arena: Edward Jones, Charles Schwaab, etc. command the market’s attention right now.

• Other insurance companies whose reputations in the financial services arena is more established: Northwestern Mutual Life, New York Life, etc. have more top-of-mind awareness in this segment.

• The implications of the Patient Protection and Affordable Care Act (PPACA) and the Health Care and Education Reconciliation Act that will take effect in 2014 and related impacts on all health-related insurance lines are largely unknown.

• An emerging, fickle generation that demands a highly sophisticated social media business platform.

• Insurance companies with a presence in Abingdon

• Aflac, 21553 Carol Jane Lane

• Allstate, 158 E. Main Street and 439 E. Main Street

• Farmers Mutual, 640 W. Main Street

• MetLife, 1000 W. Main Street

• Nationwide, 480 W. Main Street and 1070 W. Main Street

• New York Life, 458 E. Main Street

• Virginia Farm Bureau, 395 E. Main Street

Team Development

Recent college graduates seem perfectly suited for the kind of structure found in State Farm offices. We will align ourselves and maintain ongoing dialogue with the career placement offices of East Tennessee State University, Emory & Henry College, King College, Radford University, Southwest Virginia Higher Education Center, and Virginia Highlands Community College. We will sponsor campus recruiting programs appropriate for each location and participate in the annual Interstate Career Fair on April 7, 2011 at which each of these colleges along with Tusculum, Virginia Intermont, Milligan, Concord, Bluefield, University of Virginia-Wise, Mountain Empire Community College, Tennessee Wesleyan, and Northeast State Community College will be represented. Having a presence at this event will allow us to reach 300 potential candidates.

Opportunities will be promoted on Facebook, LinkedIn, and Monster.com. Past experience has shown good results with recruiting employees from whom excellent customer service has been received in the normal course of business, and we will constantly screen for talent in our own day-to-day dealings with such individuals and service providers. To a cautious extent, we will look for candidates within our book of business through the normal course of conversation with our policy holders and clients. We will network with and solicit referrals from business owners and through the Abingdon Civitan Club, Abingdon Newcomers‘ Club, Abingdon Rotary Club, Southwest Virginia Board of Realtors, Rotary Club of Washington County, and Washington County Chamber of Commerce. We will incentivize our employees with a $250 per new hire referral commission. We will host our own Career Fairs as needed to generate a pipeline of potential candidates. We will not overlook the opportunity to enlist the “trial model” afforded by reputable temp agencies applying specific screening criteria as needed.

We will use a combination of IQ, personality, and career assessment tests available from State Farm (Marketing Services Behavioral Indicator/MSBI) as well as outside resources (kolbe.com, wonderlic.com, caliperonline.com, and limra.com) to maximize the opportunity to identify, build, and develop the best possible team. We will utilize results to assess abilities, define roles, align the organization, provide training, and coach deficiencies.

Structure and Development

Three team members will be responsible for the maintenance and growth of the existing book of business and a fourth team member will be hired as a financial services specialist with a goal of adding a second specialist by year four. We will also solicit two unpaid internships per semester from the local colleges to augment our telemarketing and general office duties (photography, etc.)

All paid team members must be licensed for Property & Casualty, Life & Health, and Medicare Supplement & Long Term Care within the first 60 days of their employment. Financial service specialists must also obtain their Mortgage and Securities Licenses, which I will hold, too.

We will develop an office-specific agent certification program outlining additional training requirements for career advancement and success. This comprehensive program will include office standards, systems, and processes along with requirements for civic involvement and professional development.

Compensation

General team members will be paid an hourly wage of $9.25-11.75 plus tiered commissions on all new (one time) personal production. The financial services specialist will receive a modest base salary ($22k) plus an enhanced tiered commission on all new (one time) personal production. Quarterly incentives will be tied to the SMVC and Scorecard Bonus for the entire office with total compensation ranging from $20-28k for all general team members and $36-42k for specialists.

Sales & Marketing Strategy

Sales & marketing activities will be developed as two tracts: general agency and product-specific financial services.

General Agency

The efficiencies of online and social media will be leveraged to energize and supplement the traditional dialogue with our existing book of business while gaining traction and developing loyalty with Generations X and Y. We will employ Search Engine Optimization (SEO) tactics to drive traffic to our agency micro-site and incorporate a daily blog that will not only be used to position ourselves as an expert in insurance and financial services but will also create even more searchable content for our SEO initiative. We will exploit the economies of site analytics that are available free of charge through Google and Yahoo to monitor and measure our site’s performance and growth as well as the modestly priced services of Universal Business Listing (ubl.org) that distributes to all major search engines, yellow pages directories, social networks, mobile phones, GPS navigation and 411 directory assistance.

We will develop push email campaigns for each of our product lines and track response rates and click-throughs.

We will create a Facebook fan page and use push email in conjunction with an offline handheld paper fan campaign targeting college campuses to attract 1,500 fans to our page within the first year. We will offer timely, relevant, and valuable content on local and industry news and events and administer the page with diligence.

We will enlist text messaging as appropriate with all clientele below the age of forty.

We will offer and encourage the use of Skype as an alternate means of conducting IFRs, while letting the customer choose their preferred means of interaction.

A systematic process for maximizing the capabilities of Prospector+, X Dating, and Backroom Technician will be developed.

We will use radio and outdoor along with a local newspaper and magazine advertising schedule to promote our brand.

Memberships and Boards

We will join the Washington County Chamber of Commerce, and each employee must be actively involved in at least one, distinct civic organization. I will serve on two boards during the first three years, preferably the United Way of Washington County and the Barter Theatre.

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Business Development > Starting a Business > Feasibility & Business Plans

Updated December, 2021 File C5-69

Create your own business plan.

This Information File is an outline and template for creating your own business plan. Writing a business plan is not the same as conducting a feasibility study. The business plan is developed after the existing or proposed venture is shown to be viable. The feasibility study is comprised of calculations, analysis, and projections, while the business plan addresses tactics and strategies.

There are eight broad business planning categories shown (A-H). Each broad category contains subcategories, which may be relevant to your situation. All of the subcategories contain comments and questions that will help you identify the type of information to include.

This outline is designed to cover many different types of business. Only a portion of them may be relevant to your specific situation. Complete only those subcategories that are relevant to your situation and skip those that are not relevant.

In addition to moving you through the business planning process, this outline helps raise issues and questions about your business venture that you may not have considered. Identifying and resolving these issues now will save time and money later and increase your chances of creating a successful business.

This information file focuses upon the first-stages to creating the business plan. Further details to writing a plan are shared in AgDM File C5-68, Writing a Business Plan . Keep in mind, there is no right or wrong way to writing a business plan. See the business planning topic on the Ag Decision Maker website, for more details on feasibility studies and business plans.  View the accompanying PDF for details on each of the categories outlined below.

A)   Executive Summary  - Provide a snapshot description of the business opportunity, what the business is, and why it will be successful.       A1.  Cover/Request Page       A2.  Table of Contents       A3.  Executive Summary   B)  Company Description - Describe your business concept.       B1.  Business or Project Description and Background       B2.  Mission Statement, Goals, and Objectives       B3.  Business Structure       B4.  Products or Services       B5.  Research and Development Plans C)  External Environment - Describe the business segment economy, society, and industry that provide opportunities and threats for your business and its products or services.       C1.  Economic or Social Environment       C2.  Industry Analysis  D)  Organization and Management - Show that your business leadership is capable of running and managing the business opportunity.       D1.  Project Leadership       D2.  Business Management E)  Market and Sales Analysis - Demonstrate how the business will attract and retain customers for your products or services.       E1.  Marketplace Analysis       E2.  Target Market and Customer Analysis       E3.  Competitive Assessment       E4.  Market Plan       E5.  Marketing Message and Promotion F)  Operations - Show how the business will supply products or services to the marketplace.       F1.  Facility Requirements and Site Selection       F2.  Technical Analysis       F3.  Operations Plan       F4.  Production Plan       F5.  Labor Plan       F6.  Regulatory and Environmental Requirements G)  Financial or Funding Projections - Demonstrate how the viable business will generate stable profits and cash flows.       G1.  Budget Projections       G2.  Capital and Contingency Plans       G3.  Financial Data and Analysis       G4.  Economic Variability and Risk Management       G5.  Exit or Reorganization Plans H)  Implementation - Show supporting documents and materials for business plan execution.       H1.    Implementation Plan       H2.    Supporting Documents

Don Hofstrand, retired extension value added agriculture specialist, [email protected]

Don Hofstrand

Retired extension value added agriculture specialist view more from this author.

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100 Years of Mass Housing in Russia

• Published on July 23, 2018

Russia’s history of mass housing development can be divided into several distinct periods, each manifested by its own specific type of residential building. These houses reveal what lifestyle, comfort level, construction cost and distinctive traits were considered preferable in any given decade. Every new stage saw its own experiments and had its achievements, which together can be regarded as a line of lessons, discoveries, and experiences, helping to understand a specific character of Russian standard housing.

1917-1930: First efforts, first experiments

The October Revolution brought about a number of changes in Russia ’s housing policies, defining its development for many years to come. Two decrees of 1918, “On Abolition of Private Property in Cities” and “On Land Socialization,” gave rise to so-called communal apartments. The state-owned property began to account for a larger share of the country’s total housing stock and construction projects; the Soviet regime also took over the task of allocating dwellings among people.

In the 1920s, a new type of low-cost mass housing began to take shape. The Construction Committee of the Russian Soviet Federative Socialist Republic was the first in country’s history to embark on developing a model of a standard house in accordance with modern requirements and with the use of a scientific approach. Among other things, the authorities had held a number of various contests, and these measures eventually resulted in creating fundamentally novel types of homes, ranging from communal houses to so-called garden cities.

According to plan, a local resident could have spent his whole life in this neighbourhood without feeling any need for something outside of it: this place had shops, nurseries, schools, an institute with dormitories, factory, and even a crematory. Khavsko-Shabolovsky housing area was an important part of the district. Its thirteen buildings were situated at a right angle to each other, and at a 45-degree angle to main streets. This feature provided a good lighting, and created a closed yard system. Balconies and bad-sitting rooms both faced southern façades, while kitchens and bathrooms were designed to look to the north. Each row of houses had its own color scheme. Public building was placed in the center of the district.

1935-1955: Fine décor and high ceilings: The indiscreet charm of Stalinka building

In the early 1930s, a public contest for the Palace of the Soviets project and a new Stalin’s Moscow city master plan (1935) marked an architectural shift towards exploitation of classic legacy. Moscow city was first to straighten, enlarge and build-up its avenues with solemn ensembles, and then many Russian cities followed the lead. Artistic features in buildings, and for the neighborhood as a whole, became a priority. After World War II, the trend increased; although, multi-story buildings became less common, while wooden construction regained its relevance.

Mastering a technology of manufacturing structure elements at the factory (instead of making them right at the construction site) is a huge breakthrough of this period. But many projects were still being carried out upon their own unique custom design, and this ensured diversity of housing architecture of the time.

1949 saw an introduction of so-called standard planning: this approach completely dismisses the idea of a separate design for each project, and embraces exactly the opposite of that — a design concept which implies working upon standardised housing types and series plans.

On Tverskaya Street, Russia had tried a fast-track (industrialized) construction technology for the first time: a number of teams of workers with different skills shifting from one object to another in rotation, each in charge of his own task.

As a result of the successful experiment, the house number 4 on Gorky Street had been perfectly integrated into the mounting terrain of the road: in all three sections, residential units occupy five stories, but the height of ground floors, reserved for shops and eating places, is different. Basement and portal had been faced with polished granite, residential walls — with prefabricated tile; the interior decoration featured moulding and sculptures.

1955-1960: Khrushchev formula: Compact housing and arrival of “micro-districts”

In the aftermath of Nikita Khrushchev’s landmark speech of 1955 and the decree “On Liquidation of Excesses in Planning and Construction,” Russian housing industry started shifting to much simpler, less assertive architecture — and cheaper construction. Also, it was decided to utilize vacant lands for large low-cost residential neighborhoods — that is micro-districts — instead of proceeding with costly construction in the city center.

Since the rapidly advancing industrial technology suggested uniformity in construction, the custom planning had had to be practically abandoned. In 1959, Soviet Russia established its first DSK — Integrated House-building Factory, and more than 400 such plants were to come along in the future.

To deliver on the promise “For every family — separate apartment!,” the USSR had to build as simple and compact as possible; at the same time, expected lifespan of those structures was estimated to be around 20 years.

K-7 house line delivered the first and the cheapest mass five-story building; it took only 12 days to build such a home. Of course, this type of dwelling had its downsides, such as walkthrough rooms and no balconies. These issues have been revised and fixed for K-7 later versions.

In 1956, the USSR had held a nationwide contest for best projects on cost-effective apartment house types. The experimental 9th Block in Novye Cheryomushki district was planned and a put up drawing on the solutions submitted for this competition. Construction of a novel neighborhood took 22 months; the area had served as a testing ground for 14 building types (each of them used different planning and materials) and is up to five storeys high.

In an effort to make up for small apartments, great emphasis was put on spacious yards. These space were equipped with special leisure zones, playgrounds, landscaping, carpet-beating areas, paddling pools. Architectural planning of micro-districts excluded any through-traffic, and each block had its own nursery, kindergarten, school, canteen, shops, cinema, amenities’ building, telephone exchange, and garages.

1960-1980. Brezhnev-era homes: Same trend, greater comfort

During this period, greater focus had been placed on constructing high-rise buildings, as well as introducing improved housing types. This era gave birth to apartments with 1-5 isolated rooms, providing housing for different kinds of families. Besides, certain series allowed for flexible layouts of apartments.

In the late 70s, the housing policy agenda embraced the task of rebuilding and renovating pre-war and early post-war housing stock. Hotels and dormitories accounted for a large part of these new projects. However, housing problems still remain a major concern and a pressing issue. In 1986, with the aim to address this serious challenge, the government adopted a special program called “Housing-2000” — yet it was never fully implemented.

This neighborhood had been made up of 9- and 16-story residential buildings. For the purposes of accessible infrastructure and comfort, the architects decided to arrange entrances to all consumer service facilities in lobbies, or at least within walking distance. Buildings were connected by ground floor halls, therefore it was possible to move around almost without getting outside of the block. With internal passages reserved exclusively for taxi and ambulance, each house came with its own underground parking. The project also offered built-in furniture options, with one of the buildings attempting to perform a duplex apartment experiment.

1991—2018. Modern era: Return of custom design, and embracing larger scale

This phase saw the formation and development of the Russian housing market. The country has witnessed a glorious comeback of both individual development projects and widespread use of décor. There is an ongoing quest for new buildings’ and apartments’ layouts (studios, projects with common neighborhood areas, etc.), — while some housing series already provide options for possible replanning.

Thanks to privatization, Russians have regained their right to acquire and own housing property. This drastic shift is responsible for an important new trend in the Russian housing market. Today, more than 85% of homes are owned by private citizens.

In 1990s, our housing development has been taking rather erratic and unsystematic forms. The industry, largely dominated by infill development plans, saw a significant increase in the share of private and luxury housing. Then in the 2000s, during a period of intense economic growth, it has brought about some large-scale integral development projects for new territories.

In 1997, alongside with a new housing reform in Russia , Agency for Housing Mortgage Lending was created. A year later, the state presented a legal basis for mortgage lending. In 2016, DOM.RF (former Agency for Housing Mortgage Lending) and Strelka KB started to work out a paper called “Guidelines on Comprehensive Development of the Areas” — both parties are driven by their commitment to introduce and ensure a comfortable urban environment in Russia. One of the key ideas of these guidelines is to abandon micro-district development in favour of city blocks.

Initially, Yuzhnoye Butovo and Severnoye Butovo districts were made up of buildings of earlier types, and these homes were mostly intended for and granted to waiting-list households or welfare beneficiary families. Step by step, private construction development has been advancing and expanding — the process accompanied by the introduction of a new modernised planning series. Besides that, in the mid-1990s, Butovos accommodated our country’s first prototypes of a townhouse.

Due to its location far from city center and, thus, a long-distance commute of residents to their workplaces, Butovo district has become a symbol, and a generic term for the so-called “bedroom suburbs” — together with a burden of their distinctive problems: commuter migration, lack of public areas, underdevelopment of small-scale street trading, limited leisure options, etc.

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How to do a MoSCoW Analysis and prioritise requirements in a complex environment?

How to do a MoSCoW Analysis and prioritise requirements effectively in a complex environment?

As a Business Analyst, the question of how to prioritise requirements may seem like an easy question to answer but it can also be wrought with a variety of complications and interesting complexities. Once you have overcome these potential complexities which can come with requirements prioritisation, the most relevant Business Analysis technique to apply is what is known as the MoSCoW Analysis.

This blog article will cover both how to apply the MoSCoW Analysis for requirements prioritisation as well as the considerations and complexities for a Business Analyst to understand about their environment before attempting to prioritise requirements.

So let’s start by talking about some of these complexities that can face a Business Analyst when it comes to requirements prioritisation.

#1: Different perspectives on what is important

#2: Lack of leadership

This factor walks hand in hand with the previous factor (and is most likely the cause of it!) where people have different perspectives on what takes priority. A lack of leadership in the project or initiative team causes confusion around what is important and this is when people will end up providing their own perspective around priorities rather than following business priorities or guidelines. This causes problems in various ways and can put the Business Analyst in a very awkward position. Sometimes this lack of leadership can mean that a stronger or more senior stakeholder might get the requirements prioritised according to his/her team’s preferences due to his/her position and level of influence in the organisation rather than it being the true priorities for the good of the organisation. This leads to requirement priorities which is not necessarily being implemented in the most valuable or efficient manner and consequently reflects badly on the project as a whole.

It is imperative for a Business Analyst to receive clear direction from their project manager or project steering committee about what are the clear business objectives (with their relative priorities outlined) that requirements must deliver against so that the Business Analyst can use these business objective priorities to guide the conversations when requirement prioritisation activities take place.

#3: Not prioritising requirements

In some organisations or projects there is simply no formal and explicit effort undertaken to prioritise requirements at all. This doesn’t mean requirements are not in some sort of priority, it simply means that the requirements are not prioritised in a structured and collaborative way. This type of approach can cause problems when expectations are not managed about what will be delivered by when but it can also be that prioritising the requirements are very clear cut in a particular type of project and hence this informal way works in those circumstances. So although the Business Analyst must be very careful when choosing to not formally go through a requirements prioritisation activity, it can be the most logical and suitable approach for certain types of projects.

#4: Priority levels are not well defined

The last complexity or consideration for the Business Analyst to pay careful attention to before embarking on requirements prioritisation activities are simply the definition of the priority levels and what each priority means. Many organisations have adopted a method or set of priority levels which they are used to using without it necessarily being the most effective way to prioritise.

So now that we have discussed some of the common complexities in projects and organisations that make requirements prioritisation somewhat tricky for the Business Analyst lets now look at the MoSCoW Analysis technique and how best it can be applied.

The MoSCoW Analysis Technique

The MoSCoW Analysis is a very common and effective requirements prioritisation technique because it allows not only for three clear priority levels but also covers the requirements that will end up not being included in the currently delivery or project at all. This works very well because it allows people to explicitly agree the different priorities including the requirements, which will be excluded or referred to a future release.

Let’s have a look at how this prioritization technique works:

MoSCoW is an acronym.

M = Must ‘Must’ level requirements are those requirements which will definitely be included to be delivered. There is no negotiation around whether they will be delivered and are considered mandatory requirements.

S = Should ‘Should’ level requirements are those requirements which should be included if at all possible. If the project have capacity and time and it will not jeopardise any of the “Must” requirements, then these requirements should be delivered or included in whatever the prioritisation is done for.

C = Could The ‘Could’ level requirements are the requirements which could be included if it doesn’t have any impact on any of the ‘Should’ or ‘Must’ requirements.

W = Won’t The ‘Won’t’ level requirements tend to be the requirements which will not be included to be delivered or implemented this time but are requirements that would be favoured for a future delivery or implementation.

In Conclusion

As a final point to make, it is important that although the Business Analyst uses a best practice requirements technique , the outlined complexities listed here should be addressed as much as possible prior to embarking on a requirements prioritization activity to ensure a successful and accurate outcome.

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Art in Moscow: Museums, Galleries and Museum-Reserves

There is no strict dress code in Moscow museums. However, if you are going to explore ancient churches and holy places we recommend more conservative outwear. Women should have their heads covered.

All state museums and galleries are free every third Sunday of the month. Some of the Moscow museums are free on holidays, and during the «Museum days» and «Museum Night».

If you’re looking for great cultural tours around art points of Moscow, we have a great MOSCOW ART & DESIGN TOUR , available for you everyday except Mondays.

Moscow Museums

The Moscow Kremlin

Don’t miss a chance to see the very heart of Moscow, the Kremlin, the symbol of the Russian State, one of the greatest architectural ensembles in the world, a treasury of unusual relics and monuments of art. It is situated on a high Borovitskiy hill above the Moskva River, so you’ll be able to see a spectacular view of the city center. The famous Armory Chamber and the Diamond Fund are real treasure-houses, where you can see ancient Russian regalia, ceremonial tsar’s dress, church hierarchs’ vestments, arms, gold and silverware by Russian, European and Eastern masters. The Kremlin is the official President’s residence and remains a gorgeous political landmark. The UNESCO has included the ensemble of the Moscow Kremlin in the World Heritage List.

Site: http://www.kreml.ru/

The State Historical Museum

Ivan Zabelin, Aleksey Uvarov, and several other Slavophiles founded the State Historical Museum in 1872 to promote Russian history and national self-awareness. During its century-long history, the museum has collected more than 4.5 million of valuable items and over 12 million pages of documental archives. Its exhibitions range from relics of prehistoric tribes that lived in the territory of present-day Russia, through priceless artworks acquired by members of the Romanov dynasty. The museum’s historical building which was reconstructed and equipped to meet all the visitors requirements is on the Red Square.

Site: http://www.shm.ru/

The State Tretyakov Gallery

The State Tretyakov Gallery takes a special place among the national art museums of the world. Established with the efforts of one person, the dedicated collector Pavel Tretyakov, it possesses a unique collection of Russian art, more than 150000 masterpieces, created by famous Russian artists throughout the centuries. The historic building of the State Tretyakov Gallery at Lavrushinski Lane presents Russian art from the 11th through the early 20th century. The state Tretyakov Gallery at Krymsky Val has an excellent collection of Russian art of the 20th century, modern art and holds temporary exhibitions.

Site: http://www.tretyakovgallery.ru/

The Pushkin State Museum of Fine Arts

The Pushkin State Museum of Fine Arts is one the largest European museums of fine art. It has one of the most remarkable collections of fine arts in Russia that consists of artworks from ancient times to the present day. Visitors can see great paintings by world famous artists: Rembrandt, Botticelli, Canaletto, Tiepolo, along with the remarkable collections of Impressionists, Post-impressionists, modernists: Monet, Cezanne, Van Gogh, Picasso and others. Moreover, the museum holds the private collectors’ galleries, many of were inaccessible to public for many years.

Site: http://www.arts-museum.ru/

Moscow Museum of Modern Art

Moscow Museum of Modern Art specializes in the modern art of 20th and 21st centuries. The famous Russian artist and sculptor Zurab Tsereteli has founded it. The museum is located in four historic buildings in Petrovka Street, Gogolevsky Boulevard, Ermolaevsky lane and Tverskoy Boulevard. The museum’s collection depicts the development of avant-garde. The largest part of the collection consists of masterpieces of Russian artists, but you can also find works by Anri Russo, Joan Miro, Pablo Picasso and many others.

Site: http://www.mmoma.ru/

The Moscow Planetarium

The Planetarium in Moscow first opened its doors in 1929. After a global reconstruction, it was reopened in 2011. Now it is a multifunctional complex that combines scientific and educational resources: the interactive museum «Lunarium», the Museum of Urania, the Big Star Hall and the Sky Park, family recreation center, that focuses on different age groups. The Moscow Planetarium is one of the biggest planetariums in the world.

Site: http://www.planetarium-moscow.ru/

Moscow Galleries

Garage museum of contemporary art.

Exhibit on display during the opening of «Art Experiment»

The museum is a kind of independent platform aimed to disclose and reveal a new way of thinking. The Garage Center currently reflects the contemporary innovations of national and world’s culture. It invites you to the beautiful world of modern art, showing its best pieces. This center offers a great number of various exhibitions, educational projects for kids and adults, and publishing. The Garage Center is also called The Museum of Everything. It provides ways and reasons for public dialogue and the creation of progressive ideas.

Site: http://garageccc.com/

The Multimedia Art Museum

Fifty Years of Bond Style Exhibition

The Multimedia Art Museum opened in October 2010 at the base of the Moscow House of Photography. One of the main principles of MAMM s work is complete openness to the new forms of visual expression and for the fresh, innovative trends in the Russian and foreign media art and photography. There are seven floors of spacious exhibition halls and minimalist architecture that is a great font for modern art. The exhibition history of MAMM and Moscow House of Photography counts more than 1300 exhibitions in Russia and abroad. Moreover, Multimedia Art Museum has different educational programs and holds famous Moscow art festivals: Photobiennale, «Fashion and Style in Photography» and others.

Site: http://www.mamm-mdf.ru/

Lumiere Brothers Photography Center

This modern photo gallery is located in the very heart of Moscow, next to the Kremlin, Cathedral of Christ the Savior, big art galleries, design studios famous clubs and restaurants. The photography Center houses in an old and huge mansion at the Moskva River Embankment. Lumiere Brothers Photography Center has three huge exhibition rooms, lecture hall, library with an immense collection of rare books in photography and an independent bookshop. The Center is conducting research work, organizing educational projects, providing a base for the future Russian Museum of Photography.

Site: http://www.lumiere.ru/

Winzavod (Wine Factory) is the first and the biggest Center of Contemporary Art in our country. It unites all the areas of modern culture: exhibitions, festivals, lecture programs, cinema, concerts, theater premieres. You will find here a big amount of art galleries, artists’ workshops, designers and photographers studios, art cafes, fashion showrooms, a bookshop, children’s studio and many other things. The purpose of Winzavod is to support and to develop Russian contemporary art, art initiatives and help talented young people. Visiting Winzavod you will see the art that defines not only today’s but also tomorrow’s life.

Site: http://www.winzavod.ru/

The Manezh was built in 1817 in honor of the 5th anniversary of Russia’s victory in the 1812 war. Then it was called «Exerzierhaus», building, intended for military drills. The building has the unique construction – wooden structure trusses overlap the space of 44.86 square meters without any intermediate supports. After 1917, Manezh served as a garage for government vehicles. And since 1957 it has been continuously used for exhibitions and public events. In 2004, the building was severely damaged by fire. Renovated in 2005 the Manezh doubled its area. Nowadays it is one of the leading Moscow exhibition halls. There are two exhibition spaces, a conference room and a cafe on the third-floor observation deck. The Manezh hosts numerous fairs, festivals, and exhibitions.

Site: http://moscowmanege.ru/

Flacon Design Factory

Flacon Design Factory, located in the territory of a former glass factory, has become a pioneer in the revitalization of industrial zone outside the historic center of Moscow. Flacon has become a powerful launch pad for multiple cool projects, self-expression of creative individuals and carrying-out of sociocultural initiatives. No wonder that the atmosphere at Flacon entirely coincides with its motto: «Create as you please!» The Factory includes offices, co-working zone, shops, workshops, exhibition and creative projects spaces. Lectures, film screenings, fairs, design festivals, innovative exhibitions, presentations, concerts, limited actions and design community work days pass here weekly.

Site: http://flacon.ru/

Artplay is near Winzavod in the former industrial space in the area Kurskaya metro station and occupies an area of 75,000 square meters. Artplay, providing a new life to carefully reconstructed factory buildings, has become an important part of the contemporary cultural landscape of the city. Artplay unites designers, architects, furniture, lighting, ceramics, decorative materials shops, involving them in cooperation with each other. Young Moscow galleries, artists’ studios, cafes, bars, bookstores, music club, school of design, theater, children’s art studio are also situated here. Three exhibition halls regularly host contemporary art exhibitions, festivals, video art, alternative music concerts, performances, film screenings, lectures and master classes.

Site: http://www.artplay.ru/

CCI Fabrika

The Center For Creative Industries «Fabrika» is an art space for non-commercial creative projects. Today it is the example of peaceful coexistence of art business, operating enterprise, production, and workplaces for talented people in Moscow. CCI Fabrika is a member of the international network of non-profit cultural centers – Trans Europe Halls. This project is a typical umbrella-center. It is developing in both ways: creating and exhibiting its cultural projects and offering workspaces for other creative groups. Here you can find art studios and workshops of design, architecture, cinema, theater, cartoon animation and contemporary music studios.

Site: http://www.proektfabrika.ru/

Moscow Museum-Reserves

Tsaritsyno State Museum-Reserve

Tsaritsyno State Museum-Reserve is one of the largest historical, cultural, recreation and touristic complexes. Its total area is more than 700 hectares. It is an excellent combination of nature – marvelous rivers, ponds, streams, forests – and scientifically restored and renovated architectural and landscape monuments. The museum’s collection of historical items, exhibitions, and educational programs will be attractive for both national visitors and foreign tourists.

Site: http://www.tsaritsyno-museum.ru/

Arkhangelskoye Country Estate

Russian cultural monument is a good sublimation of the stunning beauty of a green space and luxurious collection of paintings, sculptures, unique books and pieces arts and crafts. During its long history, the estate was used as a recreation place for emperors, politicians, famous writers and poets. Today it is the finest place to have an enjoyable walk and to see the richest collection Russian art.

Site: http://www.arhangelskoe.su/

Kolomenskoe Museum-Reserve

A unique historic place – Kolomenskoe – is situated in the picturesque surrounding over the Moscow River banks. A magnificent country estate has appeared at the lands full of legends. Archeological discoveries state that the first settlements appeared here in the VIII century. It is an ancient and uniquely formed place. Today this is a unique complex of cultural monuments of high historical value.

Site: http://mgomz.ru/kolomenskoe

Sergiev-Posad City

Sergiev Posad Museum-Reserve

Museum of Sergiev-Posad is a historical and art reserve. It is located within the unique wall of the St. Sergius Trinity Lavra. This ancient monastery gathered its treasures during centuries from the tsars, princes and boyars donations. Moreover, many art and craft items were made at Lavra’s workshops. Now, the collections of Sergiev-Posad Museum-Reserve include rare, ancient icons, Cyrillic alphabet books, medieval manuscripts, visual art items, gold and silver showpieces.

Site: http://www.stsl.ru/

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